Resonant Capital Advisors LLC Buys 86 Shares of Caterpillar Inc. (NYSE:CAT)

Resonant Capital Advisors LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 5.4% in the second quarter, HoldingsChannel.com reports. The firm owned 1,688 shares of the industrial products company’s stock after acquiring an additional 86 shares during the period. Resonant Capital Advisors LLC’s holdings in Caterpillar were worth $562,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Partnership Wealth Management LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $26,000. Richardson Financial Services Inc. purchased a new stake in shares of Caterpillar during the fourth quarter worth about $27,000. Thompson Investment Management Inc. purchased a new position in shares of Caterpillar in the 1st quarter valued at approximately $27,000. Bbjs Financial Advisors LLC purchased a new stake in Caterpillar during the 2nd quarter worth approximately $28,000. Finally, Financial Connections Group Inc. acquired a new position in Caterpillar during the 2nd quarter valued at approximately $28,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Up 1.3 %

NYSE CAT opened at $356.10 on Tuesday. The business has a fifty day moving average price of $338.84 and a 200 day moving average price of $342.94. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The company has a market cap of $174.15 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.66 and a beta of 1.12.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the prior year, the company earned $5.55 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. Research analysts anticipate that Caterpillar Inc. will post 21.87 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd were paid a $1.41 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.58%. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

Caterpillar announced that its board has initiated a stock buyback plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently weighed in on CAT shares. Evercore ISI cut their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. UBS Group upped their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Truist Financial reiterated a “buy” rating and set a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Barclays raised their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $336.31.

Insiders Place Their Bets

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now directly owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.